HSBC plans job cuts amid AI push
HSBC Group plans to cut around half of its wealth management jobs in Britain, including 70% of financial advisors, as part of its efforts to integrate artificial intelligence into its operations. This move is part of the bank’s initiative to modernize its digital services and meet the evolving needs of clients, with affected employees expected to leave by the end of the month. CEO George Al-Hadari emphasized the importance of embracing technological change, considering artificial intelligence to be a driver of job reductions and a reshaper of the labor market in the sector.
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